India's foreign exchange reserves soar amid Covid-19 pandemic

Jun 05, 2020, at 10:03 pm

Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.

Tata Sons is not looking to monetise its investments to raise capital: N .Chandrasekaran 

Jun 05, 2020, at 06:53 pm

Mumbai/IBNS: Tata Sons chairman N .Chandrasekaran on Friday said the company is not looking to monetise its investments to raise capital.

Indian Sensex regains by 306.54 pts

Jun 05, 2020, at 04:48 pm

Mumbai/UNI:  The benchmark index of Bombay Stock Exchange on Friday surged by 306.54 points to end positive at 34,287.24 followed gains in Metal, Telecom, Materials and Realty stocks tracking positive global cues.

State Bank of India's net profit jumps to Rs.3,581 crore in Q4 on one-time gain

Jun 05, 2020, at 04:46 pm

New Delhi/Mumbai: State Bank of India's net profit for the month of May touched Rs.  3581 Crores in Q4FY20. It is an increase of 327 percent.

Indian unemployment rate in 2018-19 was 5.8 pc

Jun 05, 2020, at 04:35 pm

New Delhi/UNI:  The unemployment rate in the country was 5.8 per cent in 2018-19 as compared to 6.1 per cent in the previous year, according to data released by the government on Thursday.

Indian Market: Sensex recovers 377 pts

Jun 05, 2020, at 04:25 pm

Mumbai/UNI: The benchmark Index of Bombay Stock Exchange on Friday smartly recovered by 377 pts to 34,357.39, in opening trade on buying in Energy, Industrials, Metal and Bankex stocks.

Indian Rupee ends negative at 75.58 against USD

Jun 05, 2020, at 04:08 pm

Mumbai/UNI: The Rupee on Friday closed negative at 75.58, easing by one paisa against the greenback on rising demand for US Dollar by bankers and importers, dealers at Forex Market said.

Bajaj Finserv launches#EMINetworkPowerplay campaign

Jun 05, 2020, at 03:32 pm

The digital campaign has received an overwhelming response with more than 20k participants signing up to play and win in the past 10 days

Abu Dhabi-based Mubadala to invest Rs 9,093.60 crore in Reliance Jio platforms

Jun 05, 2020, at 09:24 am

Mumbai/UNI/IBNS:  Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, announced on Friday that Abu Dhabi-based sovereign investor Mubadala Investment Company will invest Rs 9,093.60 crore in Jio Platforms.

Amazon in talks to buy $ 2 billion stake in Bharti Airtel :Report

Jun 04, 2020, at 11:37 pm

Mumbai/IBNS: After Facebook acquired 9.99% in Reliance Jio in a bid to grab a lion's share of India's booming digital economy, Amazon.com is also on its way to purchase approximately 5% stake in Bharti Airtel, for which the talks are still in preliminary phase, reported Reuters.

Despite lack of non-local workers owing to Covid, Kashmiri farmers themselves engage in paddy cultivation

Jun 04, 2020, at 06:58 pm

Srinagar/IBNS: Even with lack of non-local workers, Kashmir has not stopped its economic activities due to COVID-19 and the people have taken up the challenge to cultivate during the paddy transplantation season.

ICICI Bank commits rupees four crore towards West Bengal cyclone relief

Jun 03, 2020, at 08:57 pm

Kolkata/IBNS: ICICI Bank announced that it has committed rupees four crore towards the relief and assistance in areas affected by the supercyclone Amphan.

Strides Pharma receives USFDA approval for Triamcinolone Acetonide Ointment USP, 0.05%

Jun 03, 2020, at 08:26 pm

Bengaluru/IBNS: Strides Pharma Science Limited (Strides) announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Triamcinolone Acetonide Ointment USP, 0.05% from the United States Food & Drug Administration (USFDA).

Cabinet approves amendment to Essential Commodities Act in interest of farmers

Jun 03, 2020, at 06:04 pm

New Delhi/UNI/IBNS: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the farmer friendly amendment in the Essential Commodities Act.

Google faces $5bln lawsuit in US for tracking 'private' internet use

Jun 03, 2020, at 04:10 pm

Moscow/Sputnik/UNI: US tech giant Google has been sued for $5 billion for breaching the privacy of its users by tracking their activities through the Chrome browser despite having activated the so-called incognito mode, media reported on Wednesday, citing a lawsuit filed with California's San Jose federal court.

ICICI Bank now reduces interest rates on savings bank account

Jun 03, 2020, at 04:09 pm

Mumbai/UNI: Private sector lender ICICI Bank has announced a reduction in its savings bank account interest rate with effect from June 4, 2020.

Honda Two-Wheelers India retailed over 1.15 lac units in May ’20

Jun 03, 2020, at 04:06 pm

Kolkata/UNI: Post government relaxations in lockdown 3.0 and subsequently 4.0, Honda Motorcycle & Scooter India Pvt Ltd (HMSI) recommenced two-wheeler dispatches in May and closed the month with total sales of 54,820 two-wheelers. This includes 54,000 domestic dispatches and 820 two-wheeler exports.

Indian Market: Sensex breaches 34K level; Up by 597 pts

Jun 03, 2020, at 04:05 pm

Mumbai/UNI: The benchmark index of Bombay Stock Exchange (BSE) on Wednesday rallied by 597 pts, breaching 34K level to 34,422.71, a three- month-high in opening trade tracking positive global cues.

Indian Rupee falls by 10 paise against USD

Jun 03, 2020, at 03:54 pm

Mumbai/UNI: The Rupee on Wednesday declined by 10 paise to close at 75.46 against the US Dollar on rising demand for US Dollar by bankers and importers, dealers at Forex Market said.

Govt unveils guidelines for three schemes with the outlay of Rs 50,000 cr to boost electronic sector

Jun 03, 2020, at 01:47 pm

New Delhi/IBNS: The government has announced Rs 50,000 crore package to revive the electronic industry reeling under the coronavirus-induced lockdown with an aim to boost the domestic manufacturing of five global and five Indian mobile phone makers, Union Minister Ravi Shankar Prasad said on Tuesday.

DGFT amends restriction on export of alcohol based hand sanitizer

Jun 03, 2020, at 12:30 pm

New Delhi/IBNS: India's Directorate General of Foreign Trade (DGFT) has amended the restriction on export of alcohol based hand sanitizer vide a notification issued on June 1, according to the department.

We must unlock out of Corona responsibly or all our efforts may go waste, says state health minister

Jun 02, 2020, at 09:37 pm

Kolkata/IBNS: The Coronavirus has changed our lives for a long time to come and it is here to stay but the one good thing that has helped us Indians is that we have better immunity than several other countries in the world, said Ashwini Kumar Choubey, Minister of State for Health and Family Welfare and Chief Guest at the ASSOCHAM organised Web Conference on Relevance and importance of Health and Wellness in Covid-19 here on Tuesday.

Bengal Chamber provides relief for Amphan victims in South 24 Parganas

Jun 02, 2020, at 09:32 pm

Kolkata/IBNS: The Bengal Chamber is providing relief materials to a few of the worst cyclone Amphan-hit areas of South 24 parganas in West Bengal.

Uber resumes services for airport travel in Kolkata

Jun 02, 2020, at 08:33 pm

Kolkata/IBNS: Uber is restarting its airport transportation service in Kolkata following a resumption of domestic air travel. 

Moody's downgrades India's rating to Baa3. Check how business community reacted

Jun 02, 2020, at 08:04 pm

New Delhi/Mumbai/IBNS: For the first time in more than two decades, Moody's Investors Service, which is the bond credit rating business of Moody's Corporation, has downgraded India's rating from 'Baa2' to 'Baa3' besides estimating the country's Gross Domestic Product (GDP) to shrink by 4 per cent.

ICICI Bank commits Rs. 4 crore towards West Bengal cyclone relief

Jun 02, 2020, at 07:02 pm

Kolkata/IBNS: ICICI Bank on Tuesday announced that it has committed Rs. 4 crore to aid the West Bengal government in its efforts to provide relief and assistance in the areas affected by cyclone Amphan.

Datsun launches the all-new redi-GO in India

Jun 02, 2020, at 06:58 pm

Kolkata/IBNS: Automobile maker Datsun announced the launch of the new redi-GO in India on Tuesday.

Indian Market: Sensex up by 522 pts

Jun 02, 2020, at 04:48 pm

Mumbai/UNI: The benchmark index of Bombay Stock Exchange on Tuesday rallied by 522.01 pts to settle at 33,825.53 on strong global cues.

TVS Motor May 2020 total sales stands at 58,906 units

Jun 02, 2020, at 04:17 pm

Mumbai/UNI: TVS Motor has reported a total sale of 58,906 units during the month of May 2020.

Ashok Leyland's May 2020 sales down by 89 pc

Jun 02, 2020, at 04:15 pm

Mumbai, Jun 2 (UNI) Commercial vehicle major Ashok Leyland has reported a decline of 89 pc in its total sales for the month of May 2020 at 1420 units as against 13,172 units in May 2019.